Kuala Lumpur: Malaysia, the world’s biggest rubber gloves manufacturer, is racing to increase production to close a supply gap caused by the coronavirus pandemic that it warns could last until into 2023.
The Malaysian Rubber Glove Manufacturers Association (Margma) said on Monday the country was in an oversold position of 160 billion gloves.
“The lead time currently is about seven months for the gloves to be delivered to the end customer,” Margma President Supramaniam Shanmugam said, adding that demand would remain robust until the second quarter of 2022.
Even with global production expected to ramp up to 420 billion this year from 380 billion last year and annual growth of 10-15%, Supramaniam said excess demand could run into 2023.